Brokerages expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to announce $154.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Star Bulk Carriers’ earnings. The lowest sales estimate is $152.07 million and the highest is $156.12 million. Star Bulk Carriers reported sales of $121.06 million in the same quarter last year, which indicates a positive year-over-year growth rate of 27.3%. The firm is scheduled to announce its next earnings results on Monday, June 10th.
According to Zacks, analysts expect that Star Bulk Carriers will report full-year sales of $669.69 million for the current financial year, with estimates ranging from $651.82 million to $687.56 million. For the next fiscal year, analysts forecast that the business will post sales of $993.81 million, with estimates ranging from $967.20 million to $1.02 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Monday, February 11th. The shipping company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $209.43 million during the quarter, compared to analysts’ expectations of $186.95 million. Star Bulk Carriers had a net margin of 9.05% and a return on equity of 6.85%.
SBLK has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 22nd. BidaskClub upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley cut shares of Star Bulk Carriers from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.00.
Shares of SBLK stock opened at $8.68 on Tuesday. The firm has a market capitalization of $832.46 million, a price-to-earnings ratio of 7.82 and a beta of 1.75. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 0.84. Star Bulk Carriers has a one year low of $6.16 and a one year high of $15.38.
Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new position in shares of Star Bulk Carriers in the third quarter valued at about $68,000. Cetera Advisor Networks LLC bought a new position in shares of Star Bulk Carriers in the fourth quarter valued at about $123,000. Citigroup Inc. raised its position in shares of Star Bulk Carriers by 13.0% in the fourth quarter. Citigroup Inc. now owns 14,890 shares of the shipping company’s stock valued at $136,000 after purchasing an additional 1,709 shares during the period. Sippican Capital Advisors raised its position in shares of Star Bulk Carriers by 27.5% in the fourth quarter. Sippican Capital Advisors now owns 16,062 shares of the shipping company’s stock valued at $147,000 after purchasing an additional 3,462 shares during the period. Finally, Two Sigma Advisers LP bought a new position in shares of Star Bulk Carriers in the fourth quarter valued at about $301,000. 56.39% of the stock is currently owned by institutional investors.
Star Bulk Carriers Company Profile
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of October 10, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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